Independence Bank of Kentucky Purchases 4,120 Shares of AbbVie Inc. $ABBV

Key Points

• Independence Bank of Kentucky increased its AbbVie position by 13.8% in the second quarter, purchasing 4,120 shares for a total holding of 33,967 shares valued at approximately $8.55 million. Institutional investors collectively own 70.23% of AbbVie.
• AbbVie exceeded quarterly expectations with adjusted earnings of $3.65 per share and revenue of $16.99 billion, up 10.2% year over year. The company issued third-quarter 2026 EPS guidance of $3.84–$3.88.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $275.95, compared with a recent share price of $248.75. AbbVie also pays a quarterly dividend of $1.73 per share, representing a 2.8% yield.

Independence Bank of Kentucky boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,967 shares of the company's stock after purchasing an additional 4,120 shares during the quarter. AbbVie comprises 1.0% of Independence Bank of Kentucky's investment portfolio, making the stock its 19th biggest position. Independence Bank of Kentucky's holdings in AbbVie were worth $8,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ABBV. Brighton Jones LLC boosted its stake in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company's stock worth $3,056,000 after acquiring an additional 789 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of AbbVie by 4.6% in the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company's stock valued at $22,281,000 after acquiring an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of AbbVie by 117.3% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company's stock valued at $210,685,000 after acquiring an additional 612,702 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE:ABBV opened at $248.75 on Wednesday. The business has a 50 day moving average of $254.66 and a 200 day moving average of $230.36. The company has a market capitalization of $439.49 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.16 and a beta of 0.29. AbbVie Inc. has a 1-year low of $190.75 and a 1-year high of $267.47.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the firm posted $2.97 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, July 15th. AbbVie's dividend payout ratio is presently 195.48%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of AbbVie in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. HSBC reissued a "buy" rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. Finally, Canaccord Genuity Group increased their price target on shares of AbbVie from $282.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $275.95.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company's stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

About AbbVie

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott's diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie's immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.

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